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Ethereum Price Prediction – How High Will Ethereum Surge Today?

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ETH

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Ethereum has made a healthy recovery in the past week. As a result, the price of the second-largest cryptocurrency is displaying signs of an upturn. Ethereum has recorded an increase of 1.67% today, settling its market cap at $157,215,822,422.

This analysis will show you how high Ethereum might go today.

Ethereum Price Analysis

Resistance And Support

Ethereum Price Prediction - How High Will Ethereum Surge Today?
ETH/USD daily chart showing resistance and support levels l Source: Tradingview.com

Ethereum is trading at $1,284, adding $16.60 to its price movement in 24 hours. The coin has bounced off the support level at $1,240.41 to continue its bullish climb.

According to leading analytics firm Santiment, a key metric is flashing a bullish signal for ETH.

The nearest resistance it will likely encounter is at the $1,370 level. With the current momentum in the market, it will most likely surpass this price level. The current uptrend will likely continue its ascent for the rest of 2022. Another factor that might push the Ethereum price surge further is the Federal Reserve chair hinting at minimizing its aggressive interest rate hikes.

Ethereum Price Forecast With Technical Indicators

Ethereum Price Prediction - How High Will Ethereum Surge Today?
ETH/USD daily chart with indicators l Source: TradingView.com

Ethereum is close to trading about its 50-day SMA. If the asset can overcome key resistance levels, it will continue the rally. It will likely trade above the 200-day SMA in the coming days.

The MACD line crossing above the signal line indicates bullish dominance in the market. The bulls are pushing an end-of-the-year price revival for Ethereum.

The RSI at 52.39 is slightly into the buy zone. This indicator shows a neutral sentiment presently.

The formation of two green candles in quick succession on this chart indicates a possible uptrend, and Ethereum will likely sustain its rally.

Bulls are pushing Ethereum to touch the $1,300 mark today. Possible reversals will be minimal as the $1,259 support will hold the price from freefall. However, ETH must sustain the bullish momentum to break above the $1,320 level.

Ethereum-Backed Tokens Worth Buying Today

With the spike in Ethereum prices, investors are searching for the top ERC-20 tokens to purchase. Some of the best projects available today are Dash 2 Trade, IMPT, and RobotEra.

  1. Dash 2 Trade is an innovative and modern crypto trading intelligence platform that supplies users with analytics and social trading support. Its presale has amassed more than $6,94 million and counting. Currently, the presale is in the third stage. When the nine presale stages are complete D2T will list on Lbank and BitMart exchanges. Investors are buying and holding this token as events unravel. The D2T tokens will give users access to the Dash 2 Trade platform and all its benefits.
  2. IMPT is also a smart buy. IMPT is a marketplace created for carbon credits that operate on the Ethereum blockchain. Users can earn and trade NFT carbon offsets on the platform after shopping with green brands. The aim is to support a greener earth by reducing carbon emissions. IMPT’s presale is over $13.18 million.
  3. RobotEra is a Sandbox-like metaverse run on the Ethereum blockchain. Its alpha version is due for release in the first quarter of 2023. Players in the metaverse will create and play as robots. In addition, they will be able to create a virtual world comprising; NFT land, constructions, and much more. At presale – TARO – its native token, has realized above $198,000.

Conclusion

Ethereum has also felt the pull of the prevailing bear market. However, the crypto asset is currently on a bullish run.

This price improvement can be attributed to increased adoption by investors and utility in sectors like NFT and gaming. ETH will likely finish 2022 on a high note as it looks to consolidate more at higher price levels.

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